Research can be a difficult task, especially if data is hard to come by. For companies that have a strong need for research, optimizing it can yield exceptional benefits. Efficiency, cost savings and accuracy are just a few of the advantages, and RateAcuity™ can help you achieve them.
Researching in the Energy Industry
Energy is an evidence-based field where accurate data is critical for meeting goals. Unfortunately, it comes with a few challenges:
- It’s time-consuming. Research takes time. In the case of energy, it involves collecting lots of data from a wide variety of sources and analyzing this data to find new insights. Researchers spend valuable time on this process, which translates to significant costs for the company.
- Different companies report rates in various ways. There isn’t a standardized method of reporting, so it can be difficult for researchers to decipher the information coming from all these different sources.
RateAcuity addresses these difficulties by offering an electric rate research database that reduces the time required to collect and organize data. It also arranges the rate data for researchers in an easy-to-read format, so you know what to expect from each source and can easily compare them.
Types of Research That Benefit From RateAcuity
Many companies and industries need to conduct rate research, like utility providers, energy service companies, consultants, meter and equipment suppliers and more. They might need to use an electric rate research database for:
- Energy procurement. Finding the best rate for a business is an important part of saving money. RateAcuity can compare costs nationwide to make this task much easier.
- Demand response. Demand response researchers need to understand the fluctuations of energy use to control pricing and incentives.
- Market intelligence. By understanding competitors, researchers can make better decisions about the value of energy in their location and develop well-informed market strategies.
- Sustainability. You can make great strides in sustainability with a rate database. Research organizations benefit from an understanding of how electricity gets used.
- Utility bill auditing. By auditing utility bills, businesses can ensure their usage is accurate and fair, and a database for electricity rate research is a useful tool in the audit process.
Benefits of Having Readily Available Data for Research Organizations
We’ve already mentioned the time savings of an on-demand electric rate research database, and it’s essential to consider the cost benefits as well. A typical RateAcuity customer can save about $1,800 a year by reducing the time and labor spent on research. They can pull up all the information right away, in one spot. In addition to data, researchers can utilize tools like historical data tracking and reports for more in-depth information without spending hours at a computer. Plus, the high accuracy of RateAcuity can prevent miscalculations and errors.
When you optimize research, the savings can be passed on to customers or the organization. The company could use the savings to take on new energy-efficient initiatives or offer lower prices for customers. However you use them, the speed and cost savings can be significant for researchers in a variety of industries.
Get the Data You Need for Your Research
If you want to increase the speed, accuracy and profits of your research operations, RateAcuity can help. With trustworthy data and an array of convenient tools, our electric rate database for researchers is an excellent solution. Try RateAcuity for 14 days or read our datasheet to learn more! You can also contact us with any questions.